Re:MasterCard to open up network to cryptocurrencies
by whatshisface on Thursday February 11, 2021 @01:20PM
(#26105168)
Bitcoin's use as a way of bypassing currency controls is one of the best arguments against it, because governments, already prone to suspicion towards anything that might upset their monetary policy, will have no quarter towards anything that upsets their laws.
[ Parent
| on HN ]
Re:MasterCard to open up network to cryptocurrencies
by Alupis on Thursday February 11, 2021 @01:54PM
(#26105599)
That, and folks like Elon Musk perpetrating blatant Pump 'n Dump Schemes[1].
Eventually it'll be regulated after a bunch of opportunistic "investors" get hosed - which ironically, will make the dump even worse.
[1] https://www.valuethemarkets.com/2021/02/09/if-dogecoin-is-a-...
Re:MasterCard to open up network to cryptocurrencies
by cacarr on Thursday February 11, 2021 @04:08PM
(#26107204)
The dump doesn't seem to have happened yet, though. DOGE has stabilized at about $.07, down from ~$.08.
Re:MasterCard to open up network to cryptocurrencies
by red_trumpet on Thursday February 11, 2021 @01:57PM
(#26105635)
That's just not true. Every Bitcoin transaction is conserved in the blockchain, so a government can easily reconstruct the money flow.
Re:MasterCard to open up network to cryptocurrencies
by smartties on Thursday February 11, 2021 @02:27PM
(#26105967)
And the transactions made on the exchange ? and decentralized exchange ? Can they all be tracked and reconstructed ?
Re:MasterCard to open up network to cryptocurrencies
by faffe on Thursday February 11, 2021 @05:10PM
(#26108066)
BTC is not anonymous. In theory, it is possible to track all the transactions.
That the main reason why others crypto like Monero or Dash had emerged
Re:MasterCard to open up network to cryptocurrencies
by heavyset_go on Thursday February 11, 2021 @07:42PM
(#26109517)
Pretty sure exchanges need to follow KYC laws.